HB2002 HFA Young 2-8 #2

Altizer - 3259

Delegate Young moves to amend Com Sub for HB2002 on page 1, line 9, following the period at the end of Section 10a, by inserting the following:

Ҥ11-21-10b. West Virginia child income tax credit.

(a) Resident child tax credit- For taxable years beginning January 1, 2023, a taxpayer who is a resident and is not a dependent of another individual is allowed a credit of $1,000.00 per qualified child of the taxpayer against the tax, except that when a husband and wife file separate returns under this article this credit shall be $500 per separate return for each child.   The portion of a child income credit against the tax that exceeds a taxpayer’s tax liability in the taxable year in which the credit is claimed shall be refunded.

(b)Qualifying child defined- For the purposes of this section “qualifying child” means as the term is defined by Section 152 (c) of the Internal Revenue Code.